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Geithner Said to Be Seeking TARP Extension Until Next October

Posted By admin On December 9, 2009 @ 5:23 am In Money Watch | Comments Disabled

Robert Schmidt and Rebecca Christie
Bloomberg [1]
Wednesday, Dec 9th, 2009

Treasury Secretary Timothy Geithner plans to tell Congress that the Obama administration will extend the $700 billion financial-rescue program until next October, according to people familiar with the matter.

While the Troubled Asset Relief Program expires on Dec. 31, Geithner can extend it by notifying Congress. A letter notifying Congress of the extension could come as soon as today, said the people, who declined to be identified. Andrew Williams, a Treasury Department spokesman, declined to comment.

The TARP, passed in October 2008 to prevent a collapse of the financial system, has drawn criticism from Congressional opponents of taxpayer-funded bailouts of banks including Citigroup Inc. The Obama administration, preparing the ground for an extension, has emphasized that the program may also be used to aid homeowners and small companies.

“There has rarely been a less loved or more necessary emergency program than TARP,” President Barack Obama said yesterday in a speech in Washington. “I’m asking my Treasury secretary to continue mobilizing the remaining TARP funds to facilitate lending to small businesses.”

Full article here [1]

“When the people find they can vote themselves money, that will herald the end of the republic.”Fall Of The RepublicBuy the DVD here [2]

Geithner Said to Be Seeking TARP Extension Until Next October  FOTR 340x1692 [2] 

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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=aUfaX28kfJCE&pos=2

[2] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[3] Congressman Sherman: Geithner’s Proposal is ‘TARP on Steroids’: http://www.prisonplanet.com/congressman-sherman-geithner%e2%80%99s-proposal-is-tarp-on-steroids.html

[4] No decision yet on seeking more TARP funds: White House: http://www.prisonplanet.com/no-decision-yet-on-seeking-more-tarp-funds-white-house.html

[5] Geithner: Bailouts cost less than 1 percent of US gross domestic product: http://www.prisonplanet.com/geithner-bailouts-cost-less-than-1-percent-of-us-gross-domestic-product.html

[6] Geithner asks Congress for higher U.S. debt limit: http://www.prisonplanet.com/geithner-asks-congress-for-higher-u-s-debt-limit.html

[7] ‘TARP’ Turning Out to Be Largest Taxpayer Swindle in U.S. History: http://www.prisonplanet.com/%e2%80%98tarp%e2%80%99-turning-out-to-be-largest-taxpayer-swindle-in-u-s-history.html

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